Question

Calculate the amount on Rs. 4480 at 8% per annum for 3 years​

Answer 1

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Answer 2

GIVEN,

Principal= Rs. 4480, rate of interest= 8% p.a. time= 3 years.

TO FIND,

The amount

SOLUTION,

we are given the principal= 4480

                            interest= 8%

                            time= 3 years

we know that,

AMOUNT= PRINCIPAL+ SIMPLE INTEREST.

solving for SIMPLE INTERST,

$SI=\frac{P*R*T}{100}$

substituting the values, we get,

⇒ $SI= \frac{4480*8*3}{100}$

⇒ SI= $\frac{107520}{100}$

∴ SI= Rs. 1075.20

now amount after 3 years,

AMOUNT= PRINCIPAL+ SI

               = 4480+ 1075.20

               = ₹ 5555.20

THEREFORE THE AMOUNT AFTER 3 YEARS IS ₹5555.20.